Union Bankshares Corp Has $2,240,000 Stake in Omnicom Group Inc. (OMC)
Union Bankshares Corp raised its position in shares of Omnicom Group Inc. (NYSE:OMC) by 0.7% during the third quarter, Holdings Channel reports. The firm owned 26,352 shares of the company’s stock after buying an additional 183 shares during the period. Union Bankshares Corp’s holdings in Omnicom Group were worth $2,240,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Independent Portfolio Consultants Inc. raised its stake in shares of Omnicom Group by 27.0% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,200 shares of the company’s stock worth $102,000 after buying an additional 255 shares during the period. Trust Department MB Financial Bank N A raised its stake in shares of Omnicom Group by 6.0% in the second quarter. Trust Department MB Financial Bank N A now owns 1,768 shares of the company’s stock worth $123,000 after buying an additional 100 shares during the period. City Holding Co. raised its stake in shares of Omnicom Group by 90.4% in the second quarter. City Holding Co. now owns 1,942 shares of the company’s stock worth $158,000 after buying an additional 922 shares during the period. PineBridge Investments L.P. raised its stake in shares of Omnicom Group by 11.0% in the second quarter. PineBridge Investments L.P. now owns 2,000 shares of the company’s stock worth $163,000 after buying an additional 198 shares during the period. Finally, Signaturefd LLC raised its stake in shares of Omnicom Group by 8.6% in the second quarter. Signaturefd LLC now owns 2,211 shares of the company’s stock worth $180,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 95.24% of the company’s stock.
Shares of Omnicom Group Inc. (NYSE:OMC) traded up 0.16% during mid-day trading on Tuesday, reaching $88.34. The company’s stock had a trading volume of 1,002,753 shares. The company has a 50 day moving average of $82.24 and a 200-day moving average of $83.07. Omnicom Group Inc. has a 12 month low of $66.48 and a 12 month high of $88.79. The firm has a market capitalization of $20.84 billion, a P/E ratio of 18.94 and a beta of 1.25.
Omnicom Group (NYSE:OMC) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $1.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.03. Omnicom Group had a return on equity of 39.38% and a net margin of 7.32%. The firm had revenue of $3.79 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same period in the previous year, the company posted $0.97 earnings per share. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Equities research analysts forecast that Omnicom Group Inc. will post $4.75 EPS for the current year.
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Several brokerages have recently commented on OMC. Zacks Investment Research upgraded Omnicom Group from a “hold” rating to a “buy” rating and set a $93.00 target price for the company in a research report on Thursday, October 6th. Pivotal Research lifted their target price on Omnicom Group from $79.00 to $86.00 and gave the stock a “hold” rating in a research report on Monday, October 17th. RBC Capital Markets reiterated a “hold” rating and issued a $87.00 target price on shares of Omnicom Group in a research report on Sunday, October 9th. Credit Suisse Group AG began coverage on Omnicom Group in a research report on Thursday, September 15th. They issued a “neutral” rating and a $83.00 target price for the company. Finally, Royal Bank Of Canada began coverage on Omnicom Group in a research report on Friday, October 7th. They issued a “sector perform” rating and a $87.00 target price for the company. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Omnicom Group presently has a consensus rating of “Hold” and a consensus target price of $83.86.
In related news, Director Leonard S. Coleman, Jr. sold 986 shares of the business’s stock in a transaction dated Wednesday, November 23rd. The stock was sold at an average price of $87.74, for a total transaction of $86,511.64. Following the transaction, the director now directly owns 26,829 shares in the company, valued at $2,353,976.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Treasurer Dennis E. Hewitt sold 1,000 shares of the business’s stock in a transaction dated Friday, October 21st. The shares were sold at an average price of $79.57, for a total value of $79,570.00. Following the transaction, the treasurer now owns 38,075 shares in the company, valued at $3,029,627.75. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Omnicom Group Company Profile
Omnicom Group Inc is a holding company. The Company provides advertising, marketing and corporate communications services. The Company’s branded networks and agencies operate in all markets around the world and provide a range of services, which it groups into four disciplines: advertising, customer relationship management (CRM), public relations and specialty communications.
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